National Australia Bank Ltd. may be told by the Australian competition regulator to divest either the Axa Asia Pacific Holdings Ltd. platform unit, the MLC platform or the Aviva platform as part of its plans to acquire Axa Asia, the Australian Financial Review reported in its Street Talk column, without saying where it got the information. A possible rejection of NAB’s proposal in its current form might create an opportunity for AMP Ltd. to buy a platform, according to the report.
AMP Ltd. appointed Colin Storrie as chief financial officer, effective Jan. 1, 2012. He will replace current Chief Financial Officer Paul Leaming, who will retire at the end of the year, the company said in a regulatory filing.
AMP Ltd., Hastings Funds Management Ltd. and a group led by Asciano Ltd. are weighing bids for a long-term lease for Australia’s Newcastle port, which may fetch as much as A$700 million ($617 million), said five people with knowledge of the matter.